#cotton flat

National Weather Service Has Issued a Flash Flood Warning For Midland, TX; Ector, TX

The National Weather Service (NWS) issued a flash flood warning for Midland, TX; Ector, TX starting on 10/5/2018 10:52:00 PM. NWS estimates this event is ‘likely’ to happen and the event is categorized as ‘severe.’ (more…)

Severe Thunderstorm Warning issued August 27 at 7:44PM CDT expiring August 27 at 8:45PM CDT by NWS Midland/Odessa TX

The National Weather Service (NWS) issued a severe thunderstorm warning for Midland, TX; Andrews, TX; Upton, TX; Ector, TX; Martin, TX starting on 8/27/2018 5:44:00 PM. This event has already been observed and the event is categorized as ‘severe.’ (more…)

Flash Flood Warning issued August 27 at 7:52PM CDT expiring August 27 at 10:15PM CDT by NWS Midland/Odessa TX

The National Weather Service (NWS) issued a flash flood warning for Midland, TX; Andrews, TX; Ector, TX; Martin, TX starting on 8/27/2018 5:52:00 PM. NWS estimates this event is ‘likely’ to happen and the event is categorized as ‘severe.’ (more…)

Karachi

Slow trading was witnessed at the Karachi Cotton Exchange on Tuesday while spot rate remained unchanged.

Spot rate remained unchanged at Rs6,750/maund (37.324 kg) and Rs7,234/40-kg. Ex-Karachi rates also stood firm at Rs6,885/maund and Rs7,379/40-kg after addition of Rs135 and Rs145 as upcountry expenses, respectively.  

One analyst said slow activity showed that only few stocks were left with the ginners. However, they were eager to make their warehouses empty as soon as possible, as weight of lint gets reduced in hot weather, he said.

Karachi Cotton Exchange recorded only three transactions of around 2,200 bales in Rs6,700/maund to Rs7,000/maund. Rajanpur’s 400 bales were sold at Rs6,700/maund, 1,400 bales of Ahmedpur at Rs6,950/maund while 400 bales of Rahimyar Khan were sold at Rs7,000/maund.

New York Cotton Market witnessed negative impact on all futures.

Karachi

The Karachi Cotton Exchange recorded dull trading on Thursday, while spot rates remained unchanged.

The spot rates stood firm at Rs6,650/maund (37.324kg) and Rs7,127/40kg. Ex-Karachi rates also remained unchanged at Rs6,785/maund and Rs7,272/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.

An analyst said dull trading activity was recorded, as sellers and buyers wait for cotton arrivals data, which is likely to be released by the Pakistan Cotton Ginners Association (PCGA) on Friday.  Despite abolition of four percent duty on cotton imports, little deals were booked, as prices increased across the globe and buyers preferred local lots, he said.“Prices are likely to remain high.”

KCE recorded domestic transactions of around 2,500 bales in between Rs6,300/maund to Rs7,000/maund from three stations that included Sultanabad, Punj Moro and Bahawalpur.

Karachi

Cotton market maintained bullish trend on Thursday, as 39,300 bales were traded in Sindh and Punjab regions.

The spot rates at the Karachi Cotton Exchange remained unchanged at Rs6,150/maund, while the commodity was traded at the rates ranging from Rs5,750/maund to Rs6,300/maund.

Dealers said prices are firm and spot rates are maintained for last four days on support of strong demand. Mills and traders are competing to acquire quality cotton before the prices move further up.

There are strong expectations of further increase due to bullish trend prevailing in global markets. Textile mills seem to be in hurry to buy quality cotton as soon as it reaches the market.

Brokers said, the current high demand by the mills and traders is based on fears of low supplies ahead, which may not last long. As soon as the demand eases the prices will take correction, they added.

Karachi

Cotton market maintained a bullish trend on Wednesday as 41,300 bales were traded in Sindh and the Punjab.

The spot rates at the Karachi Cotton Exchange were unchanged at Rs6,150/maund, while the commodity was actually traded at rates ranging from Rs5,850/maund to Rs6,300/maund.

Dealers said the persistent demand from the mills and traders is keeping prices firm despite the high supply conditions in the market.

The trading volumes and prices went through decent increase during the previous week. Brokers said mills and traders seem to be in hurry to buy quality cotton and are willing to pay better prices for quality cotton. 

Despite an increase of Rs100/maund to Rs300/maund, the prices in the local market are still much lower compared to global and regional markets – main factor behind the increase in trading activity, added the dealers.

Karachi

Cotton demand remained higher on Wednesday, as 32,400 bales were traded in Sindh and Punjab regions. The spot rates at the Karachi Cotton Exchange closed flat at Rs6,050/maund, while the commodity was actually traded at the rates ranging from Rs5,650/maund to Rs6,300/maund.

Dealers said the demand was higher from the millers and exporters; however, there was enough supply to cater to the demand by the spinners to meet the orders from other textile and garment manufacturers.

Growers have sown more corn and sugarcane this season and reduced cotton acreage. Corn and sugarcane producers benefit from tariffs that insulate domestic market prices from the international market, while cotton producers face lower prices and competition from cotton imports.